Newspaper article The Queensland Times (Ipswich, Australia)

Business Resilience Key to Surviving City's Upheaval; Experts Look for Positives

Newspaper article The Queensland Times (Ipswich, Australia)

Business Resilience Key to Surviving City's Upheaval; Experts Look for Positives

Article excerpt

FIRM FOCUS

ASHLEY JONES

THE big banks are in the news for all the wrong reasons, and Ipswich City Council is facing upheaval.

In spite of this, the local business community remains resilient.

Financial expert Tony Russell of Morgans Ipswich says confidence and credibility are the common factors at play with the banking crisis and current Ipswich City Council matters.

"People rely and expect a high standard of practice in banks and local government. We trust them to do the right thing," Mr Russell said.

"Trust is broken and it rattles the faith in the system. Both are repairable but that will take great transparency and honesty.

"The impact could be if systems slow down inside council and delay projects. It is wait and see at this time."

Small business -- retailers in particular -- has not had a reliable business cycle for more than five years.

Janette Czernia, of Obsession Shoes in the Top of Town, said that the regularity in business is its irregularity.

"We can never tell when it will be busy or quiet. There is a fallout locally from council it will take a few weeks. Only very few customers have mentioned it," Ms Czernia said.

Ipswich Chamber of Commerce and Industry president Phillip Bell agrees that it should be a case of business as usual.

He believes big business operations are unaffected by local council.

"The business community can see beyond the noise. Business has made decisions to move to Ipswich for a range of reasons and the disturbance locally will not alter that," Mr Bell said.

"The business community also sees through the banking sector. Confidence in the sector is eroded and I know the banks are scrambling to meet their requirements that they must carry out."

"We have to remember that Ipswich is a key location, it is growing twice the state average, it is affordable and is geographically well positioned."

According to Mr Bell, the new practices for the banking sector and the building of strong governance, great transparency and accountability for local government is a positive thing going forward. …

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